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60 do the rest. "Paul has promised to give five dollars: you beat Paul last year!" and Peter sets forth next morning with his splitting-hatchet to split nuts enough to make six dollars. Out of this copra the trader sucks his profit. From the mercantile point of view this is to be put to the credit side of the account: with its other side I have dealt with elsewhere.

The London Missionary Society appears to care more for the work of its churches and schools than for its balance-sheet, and to practise no method for swelling its collections. And as the Niuéans have as yet few wants, and are subject to no sudden calls for money, they leave tree-planting alone, and expend their energy in road-making, in house-building, and in working for white men in other islands. If they were to spend but one day a month in planting cocoanuts for the next five years, they might double their export of copra. But their needs are growing, and with instincts so keenly commercial they are unlikely long to leave the potential wealth of their island unexploited.

In view of the enormous tracts of land throughout the tropic zone that have lately been planted with cocoanuts, it is remarkable that copra has